Disney Beats Q3 Estimates As Streaming Flagship Hits 116M Subscribers

deadline.com:

Disney exceeded forecasts by Wall Street analysts for its fiscal third quarter, delivering adjusted earnings per share of 80 cents, up from just 8 cents in the Covid-hit period a year ago.A year and a half after its launch, Disney+ reached 116 million subscribers as of the end of the quarter on July 3.

That’s twice the level of a year ago. While it is smaller, ESPN+ added to the streaming momentum, rising 75% from a year earlier to 14.9 million subscribers.Total revenue of $17 billion jumped 45% over the 2020 quarter as theme parks, sports and motion pictures resumed more familiar operations and the post-pandemic comeback began.Analysts had expected Disney+ subscribers at 115.2 million, total revenue of $16.8 billion and earnings of 56